Gilead price target lowered to $89 from $94 at Maxim. Maxim analyst Jason McCarthy lowered his price target on Gilead to $89 after the company’s Q1 results missed consensus, driven by lower than expected HIV/HBV revenues. The analyst has also reduced his FY18 EPS view to $6.14 from $6.74 and revenue to $20.5B from $21.4B, adding that while CAR-T treatment is promising, it is still a long way away. McCarthy keeps his Buy rating on Gilead, noting the company’s “multiple” catalysts in 2018-2019 along with its $32B cash cushion that can expand the pipeline through M&A
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